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Cash 1,220 Debt Investments 1,200 Interest Revenue 20 Cash 1,200 Debt Investments 1,050 Gain on Sale of Debt Investments 150 3- Multiple Choice Question 117
At the end of its first year , the trading securities portfolio consisted of the following common stocks .
Cost Fair Value Atrium Corporation $ 46,400 $ 50,000 Barnes Inc . 60,000 55,800 Cantor Corporation 80,000 76,000 $ 186,400 $ 181,800
In the following year , the Barnes common stock is sold for cash proceeds of $ 56,000 . The gain or loss to be recognized on the sale is a
loss of $ 4,000 . gain of $ 1,200 . gain of $ 200 . loss of $ 4,200 .